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Why Stare Decisis ?

Anderlini, Luca; Felli, Leonardo; Riboni, Alessandro (2010-05), Why Stare Decisis ?. https://basepub.dauphine.fr/handle/123456789/7720

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stare.pdf (443.3Kb)
Type
Document de travail / Working paper
Date
2010-05
Publisher
Centre for Economic Policy Research
Series title
CEPR Discussion papers
Series number
8266
Published in
London (UK)
Pages
36
Metadata
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Author(s)
Anderlini, Luca
Felli, Leonardo
Riboni, Alessandro
Abstract (EN)
All Courts rule ex-post, after most economic decisions are sunk. This might generate a time-inconsistency problem. From an ex-ante perspective, Courts will have the (ex-post) temptation to be excessively lenient. This observation is at the root of the principle of stare decisis. Stare decisis forces Courts to weigh the benefits of leniency towards the current parties against the beneficial effects that tougher decisions have on future ones. We study these dynamics and find that stare decisis guarantees that precedents evolve towards ex-ante efficient decisions, thus alleviating the Courts' time-inconsistency problem. However, the dynamics do not converge to full efficiency.
Subjects / Keywords
Stare Decisis; Precedents; Time-Inconsistency; Case Law
JEL
C79 - Other
D74 - Conflict; Conflict Resolution; Alliances; Revolutions
D89 - Other
K40 - General
L14 - Transactional Relationships; Contracts and Reputation; Networks

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